§ 200.312 - Federally owned and exempt property.

§ 200.312 Federally - owned and exempt property.

(a) Title to federally-Federally owned property remains vested in the Federal Government. The non-Federal entity recipient or subrecipient must submit annually an inventory listing of federally-Federally owned property in its custody to the Federal awarding agency. Upon agency or pass-through entity on an annual basis. The recipient or subrecipient must request disposition instructions from the Federal agency or pass-through entity upon completion of the Federal award or when the property is no longer needed, the non-Federal entity must report the property to the Federal awarding agency for further Federal agency utilization.

(b) If the Federal awarding agency has no further need for the property, it must declare the property excess and report it for disposal to the appropriate Federal disposal authority , unless the Federal awarding agency has statutory authority to dispose of the property by alternative methods (e.g.for example, the authority provided by the Federal Technology Transfer Act (15 U.S.C. 3710(i)) to donate research equipment to educational and nonprofit organizations in accordance with Executive Order 12999, “Educational Technology: Ensuring Opportunity for All Children in the Next Century. ”). The Federal awarding agency or pass-through entity must issue appropriate instructions to the non-Federal entityrecipient or subrecipient.

(c) Exempt property means property acquired under a the Federal award where the Federal awarding agency has chosen to vest title to the property to the non-Federal entity recipient or subrecipient without further responsibility to the Federal Government, based upon the explicit terms and conditions of the Federal award. The Federal awarding agency may only exercise this option when statutory authority existspermitted by Federal statute and set forth in the terms and conditions of the Federal award. Absent statutory authority and specific terms and conditions of the Federal award, the title to exempt property acquired under the Federal award remains with the Federal Government.